Financing is provided within the program of the Ministry of Industry and Trade of the Russian Federation aimed at increasing production and sales of competitive Russian industrial products.

The program provides for concessional lending in a wide range of areas, including investment loans for the creation of export-oriented production, letters of credit, factoring and loans to foreign buyers of Russian products. The subsidized interest rate is 4.5% per annum.

The Ministry of Industry and Trade of the Russian Federation included Pharmasyntez-Nord into a consolidated list of manufacturers implementing corporate competitiveness improvement programs (CCIP) in 2019.

At present, Pharmasyntez-Nord is implementing an investment project for the construction of the second stage of a pharmaceutical plant of anticancer drugs. The production will be located at the Novoorlovskaya site of the Saint Petersburg Special Economic Zone. The investment project is aimed at further reducing the percentage of imported anticancer drugs on the Russian market. The plant’s products are planned for sale not only in Russia but also in the CIS and other countries.

The total investment in the project will reach RUB 3 billion. The company will create about 320 jobs. The launch of production is scheduled for the first half of 2021.